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bloodnock
 Post subject: Re: More VAT
PostPosted: Tue Feb 03, 2015 8:29 pm 
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babu wrote:
You must register for VAT if: your VAT taxable turnover is more than £81,000 (the 'threshold') in a 12 month period. you receive goods in the UK from the EU worth more than £81,000. you expect to go over the threshold in a single 30 day period.
???
Cant see many charities turning around enough to register.


I can...Turnover is not Profit, so whether they are "Not for Profit" or not their turnover will quite often be Chunky, especially with all those hand outs the LA's and Governments bung them..
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gusmac
 Post subject: Re: More VAT
PostPosted: Tue Feb 03, 2015 9:30 pm 
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Location: Aberdeen
bloodnock wrote:
babu wrote:
You must register for VAT if: your VAT taxable turnover is more than £81,000 (the 'threshold') in a 12 month period. you receive goods in the UK from the EU worth more than £81,000. you expect to go over the threshold in a single 30 day period.
???
Cant see many charities turning around enough to register.


I can...Turnover is not Profit, so whether they are "Not for Profit" or not their turnover will quite often be Chunky, especially with all those hand outs the LA's and Governments bung them..


Charities normally register for VAT even when under the threshold. That way they can claim back VAT paid out. Much of what they do is VAT exempt, so it's a no brainer for them.

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